Chapter 1 and Chapter 2

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1.
1 point
The amount of money left over after a business has paid for the cost of producing its goods and services.
2.
1 point
The study of how society chooses to use resources to produce and distribute goods and services for people's consumption.
3.
1 point
A central authority that makes the key economic decisions.
4.
1 point
Labor unions negotiate with management for better pay, hours, and working conditions in a process called
5.
1 point
The economic resources used to produce goods and services
6.
1 point
The shortage of economic resources
7.
1 point
A system in which economic decisions are made in the marektplace according to the laws of supply and demand.
8.
1 point
The knowledge, efforts, and skills people bring to their work, also called labor.
9.
1 point
In a moderate command economy there is some form of private enterprise.
10.
1 point
The private enterprise system is called
11.
1 point
The amount of goods and services that consumers are willing to buy at various prices.
12.
1 point
The price at which the amount of goods producers supply meets the amount of goods consumers demand.
13.
1 point
A combination of a market and command economy.
14.
1 point
The amount of goods and services that producers will provide at various prices
15.
1 point
Tasks that people or machines perform.
16.
1 point
Anything that people can sue, such as fuel, labor, or money, to make or obtain what they need or want.
17.
1 point
The amount of natural resources available to a society has a direct effect on what
18.
1 point
Raw materials found in natrue used to produce goods
19.
1 point
What is the first step in deciding on your resources.
20.
1 point
The things you wish you could have.
21.
1 point
Can be physically weighed or measured.
22.
1 point
Things such as buildings, materials, and equipment used to produce goods and services
23.
1 point
The initiative to improve goods and services or create new ones.
24.
1 point
A person who selects, purchases, uses, or disposes of goods or services.
25.
1 point
Any activity that seeks profit by providing goods or services to other.